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What to Watch: Rig Counts & COT

ENERGY
  • The latest Baker Hughes rig count data is due for release at 13:00ET. The US oil rig count last week fell to the lowest since January 2022 at 485 while the gas rig count held down at 98 and the lowest since August 2021.
  • The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30ET. Money managers net long crude positions rose last week driven by a rebound in Brent. ICE Gasoil net long fund positioning increased to the most bullish since mid April but Nymex gasoline was the least bullish since October.

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